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Petrovietnam Partnership Meeting 2020

On the evening of 10th January 2020, in Ho Chi Minh city, Vietnam National Oil and Gas Group (Petrovietnam) held an annual meeting with the contractors, operators and foreign partners of Petrovietnam.

Attending the program were representatives of the ministries, central branches; Petrovietnam was represented by Mr. Le Manh Hung, President and CEO; Mr. Phan Ngoc Trung, member of the Board of Directors; Mr. Nguyen Quoc Thap, Vice President; Mr. Le Xuan Huyen, Vice President; with representatives of Divisions/ Administration Office, and leaders from the member units.

At the meeting, President and CEO Le Manh Hung announced the results of production and business activities in 2019 of Petrovietnam, shared the targets of the coming year, and sent deep gratitude to the partners who have joined hands with Petrovietnam to obtain certain achievements in 2019.

Overview of the meeting

In recent years, Petrovietnam has actively integrated and gradually expanded international cooperation with the partners from Russian Federation, US, Japan, and South Korea… partners in ASEAN, the Middle East. Especially in 2020, Vietnam and the Russian Federation are actively organizing many activities for the Vietnam Year in Russia and the Russian Year in Vietnam on the occasion of the 25th anniversary signature of the Treaty on the principles of Vietnam-Russia friendship and 70 years of establishing diplomatic relations.

Petrovietnam President and CEO Le Manh Hung spoke at the meeting

In 2019, Petrovietnam’s business targets of the year were fulfilled 1-2 months ahead of schedule. In particular, the increase in oil and gas reserves reached 13.38 million tons of oil equivalent; total oil and gas production reached 23.29 million tons of oil equivalent; electricity production reached 22.54 billion kWh; fertilizer production reached 1,577 million tons; petrol and oil production reached 11.50 million tons; revenue of the entire Group was 736.2 trillion dong, the Group’s contribution to the State budget was 108 trillion dong.

In the past year, Petrovietnam have achieved independent credit rating by Fitch Ratings at BB+. This reflects that Petrovietnam’s goal of innovating and improving the financial management integrated with business activities is timely, practical and effective. Basically, all member units of the Group have fulfilled and over-fulfilled the set targets. Some units have fulfilled 1-2 months ahead of schedule.

 Petrovietnam leaders congratulated and awarded medals to contractors, partners and units with outstanding achievements in 2019

Petrovietnam has also maintained its position in the top 500 list of Vietnam’s most profitable enterprises in 2019 by Vietnam Report. In addition, many units consistently rank high in the awards, honoring of production capacity, executive management, creativity and environmental protection.

Representatives of foreign partners spoke at the meeting

On this occasion, Petrovietnam also presented flowers and medals to many contractors, operators, oil and gas partners and member units with outstanding achievements in operating and managing oil and gas activities in 2019.


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